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Current Affairs Update - 11 August 2017

Current Affairs Update - 11 August 2017

Daily Current Affairs GK Update - 11 August 2017

Study Up-to-date Current Affairs GK and Current Affairs Quiz from Achievers Rule for various Government Competitive Exams like SBI, IBPS, SSC, Railway and Other State Government Exams. This Section will cover Daily News , National, International Events, Defence Exercise, International Agreements, Awards and Honours. and Also this will help you in GK portion. So, Try to go through this on daily basis. Keep Visiting and Keep Sharing. 
Banking/Economic Affairs
SEBI allows MCX to launch gold options
  • Capital and commodity market regulator SEBI has allowed MCX, the country’s largest commodity exchange, to launch options trading in gold.
  • It will allow investors and hedgers to minimise their price risk at a fraction of cost compared to currently available futures trading.
  • Murgank Paranjape, Managing Director of MCX, confirmed the approval and told BusinessLine that the exchange is yet to decide on a firm date (on the launch of gold options) as the mock trading is still going on.
  • “We would like to conduct few more awareness events since it is a new instrument for commodity investors. We will fix a date for the launch only after we are fully satisfied that members and bullion traders are ready,” he said.
IDFC Bank partners with Zeta for digital payments solution 
  • Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch ‘IDFC Bank Benefits’ - a payment solution for corporates that digitises employee spends and claims, making the process simple, real-time and paperless. 
  • The end-to-end digital solution comprises an IDFC Bank Benefits Card and Zeta app which integrates the full suite of allowances and reimbursements offered by an employer into one preloaded card. Employees can also access the Benefits Card via the Zeta app on mobile or web. This enables them to track spends, entitlement limits and submit claims, digitally, while on-the-move. 
Vijaya Bank Self Employment Training Institute (VIBSETI) center opens in Indore.
  • Vijaya Bank has disbursed loan sanction letters to beneficiaries who were trained at the Vijaya Bank Self Employment Training Institute (VIBSETI) in Bhenslay Village, Indore, Madhya Pradesh.
  • VIBSETI trains youth for starting their own enterprises. Kishore Sansi, Managing Director and CEO, Vijaya Bank, inaugurated the new premises recently. The event was attended by Nishant Warwade, District Collector, Indore; Kirti Khurasiya, Additional Collector and CEO, ZP, Indore; Sathish Ballal, General Manager, Vijaya Bank Head Office; Girish C Dalakoti, Regional Head, Vijaya Bank, Bhopal Regional Office, and others.

National Affairs
Odisha partners with Facebook to train women entrepreneurs
  • Bhubaneswar, Odisha will partner with Facebook to train women entrepreneurs and Self Help Groups (SHGs) to promote entrepreneurship and digital literacy, an official said on Tuesday.
  • Facebook has agreed to partner with the state government to train altogether 25,000 Ministry of Micro, Small and Medium Enterprises (MSMEs) and SHG entrepreneurs in by August 2018.
  • The government has decided to organise hands-on workshops for Micro, Small and Medium women Entrepreneurs and women SHGs on "Digital Marketing Skills" in collaboration with Facebook.
Gujarat first state to implement coal utilisation between power units
  • Setting a precedent, the Gujarat government has issued a tender for power developers to receive cheap coal marked for the state in return for selling coal-based power at less than Rs 2.82 a unit.
  • Through the auction, Gujarat will transfer the coal allocated to power generating stations owned by Gujarat State Electricity Corporation (GSECL) to more fuel-efficient private power plants.
Google, NSDC Launch Android Skill Development Programme to Improve Mobile Developer Ecosystem 
  • The National Skill Development Corporation (NSDC) and Google India on Tuesday launched Android Skill Development programme to impart mobile development training on the Android and Web platform and improve the quality of mobile app development ecosystem in India.
  • Under the initiative, NSDC would introduce a specific course to create applications for the mobile platform that can be used on smartphones and tablets running on the Android operating system.
Lok Sabha passes bill approving merger of associate banks with SBI
  • The government today said the merger of the five associate banks with the SBI will lead to increased capital base and availability of loan, as the Lok Sabha passed the bill approving the amalgamation.
  • The Lok Sabha passed the bill to repeal the SBI (Subsidiary Banks) Act 1959, State Bank of Hyderabad Act 1956 and to further amend the State Bank of India Act, 1955, following the merger of five associates with the parent SBI.
  • Minister of State for Finance Santosh Gangwar said that with this merger, the SBI has come in the list of top 50 banks globally and is ranked at the 45th position.
  • “The merger will bring about increased capital base and increased ability to give loans. Also, small banks will get access to products like mutual funds,” he said.
NCERT Launches Web Portal For Supply Of Textbooks
  • Upendra Kushwaha, Minister of State, Ministry of Human Resource Development has launched the NCERT's Web portal for supply of textbooks to schools and individuals in New Delhi today. 
  • The portal will ensure better distribution of textbooks across the country and will also address the apprehensions, on the part of schools and parents, regarding unavailability of National Council Of Educational Research And Training (NCERT) textbooks, said a statement from the ministry.  
  • The schools will be able to log on to the portal, by entering their respective Boards' affiliation numbers and other details, till 8th September 2017 for placing their orders for the session 2018-19. 
International Affairs
China uses a quantum satellite to transmit potentially unhackable data
  • China has demonstrated way to send data over long distances which is potentially unhackable.
  • It relies on "quantum cryptography" and a satellite sending data via photons from space to earth.
  • The implications could be huge for cybersecurity, making businesses safer, but also making it more difficult for governments to hack into communication.
Defence & Railway
ISRO to develop full-fledged(Earth Observation) hyperspectral imaging satellite
  • ‘Hyspex’ imaging will enable distinct identification of objects from space.
  • A new set of future satellites called hyperspectral imaging satellites is set to add teeth to the way India is gleaned from about 600 km in space.
  • The Indian Space Research Organisation (ISRO) says it plans to launch a full-fledged niche Earth observation (EO) satellite — called the Hyperspectral Imaging Satellite or HySIS — using a critical chip it has developed.
Application / Portal 
Facebook launches YouTube competitor called 'Watch'
  • In an apparent bid to take on Google-owned YouTube, Facebook has rolled out 'Watch' - a redesigned video platform for creators and publishers.
  • The social media giant last year launched 'Video' tab in the US, which offered a predictable place to find videos on Facebook.
  • "Now we want to make it even easier to catch up with shows you love. We're introducing 'Watch', a new platform for shows on Facebook. 'Watch' will be available on mobile, on desktop and laptop and in our TV apps," Daniel Danker, Director of Product at Facebook wrote in a blog post.
Schemes / Programme
Namami Gange Jagriti Yatra: The new clean Ganga campaign launched by UP government
  • The Uttar Pradesh Government led by Chief Minister Yogi Adityanath  has launched a new awareness drive called Namami Gange Jagriti Yatra. The drive will be focusing on cleanliness along the banks of Ganga river and maintain hygiene. 
  • The campaign was flagged off in the state capital Lucknow by CM Adityanath in hopes of making the river and the banks much more cleaner in the future.

Details about the Namami Gange Jagriti Yatra:

  1. The drive has been organised by Uttar Pradesh Homeguard volunteers and will help in spreading awareness in about 25 districts situated on the banks of river Ganga in the state
  2. It will urge people to maintain the cleanliness and hygiene of the Ganga river
  3. The drive will be covering a total area of around 1,025 km
  4. It will pass through 108 blocks of 25 districts of UP from Bijnore to Ballia alongide the Ganga river
  5. More than one lakh Homeguard volunteers will be organise public gatherings and other awareness programmes in the districts under the Namami Gange Project
  6. It will urge people to refrain from practices and other things that pollute the Ganga River.
Telangana CM initiates ?2,000-crore Sriram Sagar modernisation project
  • In an effort to modernise the Sriram Sagar project and increase the area served by this lifeline project, Telangana Chief Minister K Chandrasekhar Rao on Thursday initiated a ?2,000-crore project that seeks to modernise and revitalise its network.
  • The project on the Godavari river has the potential to boost water supply to several districts in the State.
  • The Sriram Sagar project, which has been a key water source for the farming community in several districts, has been neglected over the years, leading to silting. This has brought down its storage capacity from 112 TMC ft to 85 TMC ft and its cultivation ability from 16 lakh acres to about 5 lakh acres.
  • The State plans to keep the reservoir full throughout the year by filling it with water from the Kaleshwaram project.
Sports: Awards & Honours
Davinder Kang becomes first Indian to qualify for javelin throw finals
  • Barring Davinder, no Indian has ever qualified in the men's javelin throw final round in any world championship.
  • He cleared the automatic qualification mark of 83m in his third and final throw as he sent the spear to a distance of 84.22m.
  • Neeraj Chopra's maiden World Championships ended with just three throws.
Oxford launches Tamil, Gujarati online dictionaries
  • After the Hindi version, Oxford University Press (OUP) has launched online dictionaries in Tamil and Gujarati as part of its special focus on Indian languages.
  • The Oxford Global Languages (OGL) initiative began in September 2015 with an aim to build dictionaries and lexicographical resources for around 100 of the world’s languages and to make them available online.
  • The programme’s objective is to transform the experience of millions of people worldwide by making content in their language available in digital form—on websites, in apps, and in many different tools and services—OUP said.
  • “OGL is a bold initiative from Oxford University Press for a modern challenge and a huge opportunity,” Judy Pearsall, Director for Oxford Dictionaries, said.
Amazon launches virtual customer service in India
  • Amazon on Wednesday announced the launch of virtual customer service (VCS) model, an initiative launched to create cost efficient employment prospects for skilled candidates seeking more flexible work opportunities.
  • With the initiative, Amazon is reaching out to a wider talent pool to ensure a high rate of diversity while also roping in talent who might not be able to physically attend regular office for various reasons, it said in a statement.
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